Today's corporate news highlighted significant capital market activity, with Canal+ securing an oversubscribed €1.8 billion financing package and Time Out Group successfully completing a share placing to support its growth. Banco Santander's substantial share buyback program neared completion, while Air China announced a major equity financing initiative for its Shenzhen Airlines subsidiary. Meanwhile, Chariot Limited and Afentra PLC executed strategic divestments, shedding non-core assets to sharpen their focus and bolster finances. In contrast, MOH Nippon PLC issued a going concern warning, signaling significant working capital challenges and dependence on asset disposals for its future.
MOH Nippon MOH, a crowdfunding services provider for real estate investment, announced its unaudited interim results for the six months ended 30 September 2025. The company reported no revenue for the period, a sharp decline from JPY 4,009.1 million in the prior year. Despite achieving a profit before tax of JPY 73.9 million, the company issued a going concern warning, stating that current cash flow forecasts indicate it will run out of working capital during March 2026. Its working capital beyond this period is reliant on the disposal of a second-series investment.
Canal+ SA announced the successful signing of a €1.8 billion financing agreement, comprising a €500 million 12-month term loan and a €1.3 billion 5-year term loan. This new financing, which was significantly oversubscribed by a syndicate of international banks, is intended to refinance the acquisition debt associated with MultiChoice. The transaction represents the final step in refinancing the MultiChoice acquisition debt, contributing to the progressive extension and diversification of the group's debt maturity profile on attractive terms.
Global media and hospitality business Time Out Group TMO announced the successful completion of its firm and conditional placing. The company successfully placed 100,000,000 new ordinary shares at an issue price of 8 pence per share. This capital raising initiative, which also included a retail offer, is intended to provide funding for the company's operations and strategic objectives.
Africa-focused energy company Chariot CHAR Limited announced the disposal of its water business, held through its subsidiary Oasis Water Platform, to AquaNexus Holding. The sale, completed for US$435,000 in cash, allows Chariot to sharpen its focus on its core Power division, which encompasses electricity trading and generation projects across Southern Africa. The divested business primarily included a proof-of-concept desalination project in Djibouti.
Upstream oil and gas company Afentra AET completed the transfer of its 34% non-operated participating interest in the Odewayne Block, Somaliland, to Petrosoma Limited. The divestment received formal approval from the Ministry of Energy and Minerals of the Republic of Somaliland, fulfilling all necessary transfer requirements. Additionally, Afentra received $1.97 million from Genel Energy Somaliland Limited to settle carry obligations related to the divested interest.
Banco Santander announced significant progress in its share buyback programme, having repurchased shares worth €1.624 billion between December 11 and 17, 2025. This amount represents approximately 95.6% of the programme's maximum investment. The bank has now repurchased about 15.2% of its outstanding shares as of 2021, marking a substantial effort to return capital to shareholders and affecting the company's capital structure.
Air China provided an update on the proposed equity financing for its subsidiary, Shenzhen Airlines, which is seeking to raise a total of RMB 16 billion. Air China announced its intention to participate in this financing by making a capital contribution proportionate to its current 51% equity interest in Shenzhen Airlines. This significant financial injection is expected to strengthen the capital structure of the airline subsidiary.